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529 Receipts?

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  • 529 Receipts?

    Is there a time limit on reimbursement from your 529 for qualified education withdrawals? Can you save private K-12 tuition receipts like you do medical receipts for an HSA? If my kids make it through college with 529 money to spare can I use old tuition receipts to withdraw the rest penalty free?

  • #2
    This would be clever, but I don’t think so. In my experience the IRS is careful about matching receipts to 529 disbursements.

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    • #3
      As Larry said, a 529 account is not like an HSA account. The IRS requires you to reconcile 529 distributions with with qualified education expenses on a yearly basis.

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      • #4
        I figured this was the case since I’d never seen anyone mention it. I wonder how long the IRS will keep allowing people to use HSA in this fashion.

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        • #5
          Hard to say re the HSA. One benefit of having both houses of Congress closely contested is a bit of gridlock. No major changes coming soon.

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